At the end of 2020, Winter-break-is-almost-here Corp. failed to accrue interest of $8,900 on a note receivable. At the beginning of 2021, when the company received the cash, it was recorded as interest revenue. What would be the effect of the error on the income statement and the balance sheet in the 2020 financial statements? O Assets overstated; Retained earnings overstated. O Revenue understated; Assets overstated. O None of the options listed. O Net Income understated; Assets understated. O Net Income understated; Retained earnings overstated.